NASSAU, BAHAMAS- Government is working on a counter proposal to present to businesses impacted by the Village Road Improvement Project according to Economic Affairs Minister Michael Halkitis.
Halkitis made the comments during a press briefing at the Office of the Prime Minister last week.
“As you know Village Road business have approached government to bring some relief to in some way compensate for some of the disruption and some of the damages to property as a result of the Village Road Road Improvement Project. We have had several meetings with them. They have submitted a list of businesses and a proposal for relief they would like to see. We are studying that and expect to come back to them with a counter proposal very shorty so that we can move towards a conclusion,” said Halkitis.
He noted that the Ministry of Finance is working along with the Ministry of Works in that regard as there is in some instances property such as driveways and walkways that need to be repaired.
Halkitis noted that there is precedent for government to provide tax breaks and other concessions for businesses impacted by long-running roadworks projects as the last Christie administration did so for the New Providence Road Improvement Project that impacted multiple businesses in numerous areas of the island more than one decade ago.
Village Road businesses have previously stated they were seeking VAT credits, plus Business Licence and real property tax waivers, to compensate for the damage caused by roadworks.
Some 15 companies signed their names to a letter authored by Michael Fields, president of Four Walls Squash and Social Club, which suggested that the Government provide them with an economic stimulus to offset their losses and stimulate economic activity in the area. The proposal calls for the provision of VAT credits; a waiver on 2023 business license fees; refurbishment grants, full sponsorship of a collective marketing campaign targeted at bringing customers back to Village Road, Real property tax waivers for residential and commercial property owners, and concessions on BPL bills.
